Pros
The people. The technology. The excitement. Always so much to learn here and each day is different. There are many support structures here (tools/team/mgmt) and communication flows very well. Qualcomm is a big company, yet moves very quickly in an ever changing/evolving market place. We are very well positioned in multiple areas these days. QCT Chips are selling more than ever and CDMA continues to expand (WCDMA/CDMA2000), MediaFLO (broadcast mobile TV), Firethorn (mobile commerce), QIS (Brew apps, Qchat). QC continues to spend over $1B a year in R&D and we are coming out with many compelling products. From multiple personal devices, to medical, to logistics, etc.
Cons
None that I have come accross in my two years. I have worked for about 10 other companies over the last 10 years (most have been contracts) and I am more impressed with what I see here at QC than at any other place I have worked at. They really take care of their people here and our attrition rate is incredibly low - MUCH lower than industry standard - which says a lot. I am, for the first time in nearly a decade, still excited about my career and QC. I finally found a place in which I want to work for long term and build my career.